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Biz News Korea(Eng)
Jan-Sept foreign direct investment to Korea hit record high
- Collected
- 2016.10.05
- Distributed
- 2016.10.06
- Source
- Go Direct
The third quarter foreign direct investment (FDI) registered at $4.49 billion, up 2.1 percent on year, was also a record-high.
The capital investment suggests foreign confidence in the economy regardless of escalating North Korea nuclear threat and other external uncertainties, said a ministry official.
But actual foreign investment made in Korea totaled $6.68 billion as of September this year, down 40.2 percent from the same period last year.
By country, the European Union pledged $5.32 billion, up a whopping 194.8 percent on year, accounting for 35.3 percent of the total FDI commitments. Capital inflow from China more than tripled to $1.66 billion. Last year apart from the standalone investment of $980 billion from Anbang Insurance to buy out Tongyang Life Insurance, capital investment from China up to September totaled $550 million.
The service sector drew $10.23 million, up 14.9 percent on year and the manufacturing sector $4.32 billion, up 46.2 percent.
By type, green field investment - a form of FDI where a parent company builds its operations in a foreign country from scratch - has come to $10.82 billion, up 26.3 percent on year, while mergers and acquisitions dropped 10.2 percent to $4.23 billion in the same period.
By Seo Dong-cheol
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]